Reliance Industries completes US$ 11 bn expansion of Jamnagar refinery

India's private petrochemical major, Reliance Industries successfully commissioned the refinery off-gas cracker (ROGC ) complex built at Jamnagar, Gujarat. The company houses its integrated refining and petrochemicals production hub at Jamnagar. 

The company claims the ROGC complex is the world's largest ethylene crackers using residue off-gas to produce feedstock for manufacturing downstream petrochemicals. The expansion project cost the company US$11 billion in capital expenditure. The ROGC complex has a capacity of 1.5 million tonnes per annum. The complex will provide the company cost and competitive advantage against its global peers.

Also, India's largest reinsurance company GIC Re has provided a super reinsurance policy of Rs 2 lakh crore to Reliance's Jamnagar and Hazira plants for a premium of Rs. 625 crore, said news reports.

At lunch, the stock of Reliance Industries quoted Rs. 920.25 per share, up 0.97 per cent. Meanwhile, BSE Sensex was at 33,888.10, up 75.84 points or 0.22 per cent.